PRS REIT has exceeded its target of committing to deploy £900m to new private rental homes in the second quarter of its financial year.
Its committed funds totalled £936m at the end of the quarter, company results show. It has £530m in deployed funds, with a further £406m in committed development investment. This equates to 5,600 new rental homes, with an estimated rental value of £57m.
The REIT reported investment of £756m and 5,100 homes in its first quarter. In the second quarter its completed and contracted development increased by £146m, with an additional £34m committed development.
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